Champions for Change: Providing Meaningful Support for Small Businesses

I’ll be honest: I love a good Target run as much as anyone. 

But I also wouldn’t want to be without all of the locally-owned retail shops, specialty stores and restaurants that make my city (Cleveland, represent!) great. Small businesses give warmth and character to a community. They drive job growth and support stability, and they’re a critical part of the economy. 

Most businesses have taken a hit over the past year, and small businesses have narrower margins to absorb the loss. If we truly value these mom-and-pop shops — and we should! — they need our help. In my "storybook town" of Medina, OH, our small businesses have worked hard to create a collaboration with the community. And, I can proudly say, most of the downtown businesses are still there and thriving. But many businesses across the country haven't been as lucky.

I was glad to see that AT&T Business CEO Anne Chow shares my concerns here. In honor of Small Business week, she took an episode of her Champions for Change interview series to focus on how enterprise-level companies can help support small business owners. 

For this video, Anne invited Glenda McNeal to provide an expert perspective. Glenda’s been at American Express for 30 years, and she’s done amazing work with small businesses through her position as President of Enterprise Strategic Partnerships. 

You can watch the whole video here. Read on for a few highlights from the conversation.

How Leaders Can Provide Meaningful Help

Glenda’s no stranger to the special challenges small businesses face when the economy dips. After the 2008 financial crisis, American Express created Small Business Saturday to encourage consumers to visit local businesses. 

That initiative helped Glenda take a more forward-looking view of how to help SMBs, as well as meeting their immediate needs. “Fundamentally, we should really be aware of what small businesses need the most at a given time,” she says.  

On a personal note, I can tell you that Small Business Saturday is a HUGE deal in our town! American Express has literally created a movement that has made shopping small something to be proud of.

In 2020, American Express launched Stand for Small, a coalition of businesses across industries offering services, tools, and expertise. Now numbering more than 100 members, including AT&T, it serves as a resource that small businesses can leverage at different stages in their recovery. Another project provides small restaurants, which have been hit particularly hard, with $5,000 grants to upgrade their digital capabilities.

This centralized approach helps small business owners cut through the red tape and get the help they need as quickly as possible. The easier it is to get help, the more useful that help is likely to be — and the clock is always ticking. 

Identifying and Making Key Changes

Being a successful business owner means adapting to change, and that’s never been more true than during the COVID-19 crisis. 

To start with, SMBs need to design, integrate, and communicate practices to ensure cleanliness and hygiene to reduce the spread of the virus. “As we move into recovery and the world opens up again, people want to feel safe,” says Glenda. “One of the things that small business owners have to focus on is promoting a safe, frictionless environment where people can feel a sense of normalcy.”

This can range from providing contactless payment methods and QR codes instead of physical menus, to regularly sanitizing surfaces and promoting cleaning and safety practices via signage, emails, and on store websites.

Small businesses also have to step up their online presence — no more relying on foot traffic and an outdated website. “The pandemic has really accelerated e-commerce and technology in ways that we had never imagined,” says Glenda. Today many people want to engage in both online and in-person shopping or dining, so small shops and restaurants need to be able to offer flexible solutions like curbside pickup.  

Finally, small businesses should embrace their communities. That sense of belonging and shared history with customers is one of the unique and wonderful things about a small business.  SMB owners should work to show the human side of the business: Tell your customers the story of the business, the passion that got you started, and what makes your business one-of-a-kind. 

The Integration and Impact of Technology

As Glenda noted, the pandemic has accelerated the pace of technology adoption, which can be another challenge for SMBs. “Many of the services and solutions that AT&T provides to our business clients were . . .  accelerated by half a decade,” she says. Businesses with customer-facing platforms had to quickly adopt software and equipment to enable employees to do their jobs not just remotely, but in a way that seamlessly integrated with the company’s digital environment.

This acceleration has also led to changes in customer behavior and expectations that may be permanent. For example, “I never imagined that someone else would be buying my fruit, and I'm okay now if they pick them,” says Glenda. Customers now have multiple shopping options, from delivery to buying online and picking up in-store or curbside--and they appreciate the convenience. “That’s something that we have a lot of opportunity to make sure we maximize going forward,” she says.

What Makes a Small Business Champion?

When it comes to encouraging other leaders to adopt a champion mindset, Glenda offers a multi-pronged approach:

●      Cultivate an outside-in perspective. The insights she brings from customers help American Express stay in tune with the market and competitor landscape, informing their strategy and ensuring teams are working together toward the right goals.

●      Know what sets you apart. Competition is fierce, and leveraging differentiators--whether it’s service, security, the brand, or a unique combination of several factors--is critical.

●      Bring your team with you. “I'm a strong believer that being ambitious for others is key to anyone's success,” says Glenda.

I would add that being a champion for change is an ongoing thing. If you’ll forgive a worn-out cliche, it’s a journey, not a destination. We should always be evaluating our connection to our customers and community. 

This kind of mindset can lead to unexpected innovations, efficiencies, and opportunities--exactly what we want to see. 

Learn more about how big businesses can help support SMBS: Watch the full video.